N.Y. Public Authorities Law 2719 – Exemption from taxation of property and income
Current as of: 2024 | Check for updates
|
Other versions
§ 2719. Exemption from taxation of property and income. The property of the authority, and its income and operations shall be exempt from taxation or assessments of every kind and nature; nor shall the authority be required to pay any filing or recording fee or transfer tax of any kind on account of instruments filed or recorded by it or on its behalf. Mortgages made or financed (directly or indirectly) by the authority shall be exempt from the mortgage recording taxes imposed by Article 11 of the tax law.
Terms Used In N.Y. Public Authorities Law 2719
- Authority: shall mean the public benefit corporation created by section twenty-seven hundred three of this title, known as the development authority of the north country. See N.Y. Public Authorities Law 2702
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.